Drug Week
Welcome to NewsRx!
Learn more about a six-week, no-risk free trial of Drug Week
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Bioengineering
SyntheMed Completes $2.8 Million Equity Financing
August 31st, 2007
SyntheMed, Inc. (BULLETIN BOARD: SYMD) , announced that it has completed the initial closing of a private placement in which it received $2.8 million in gross proceeds. Robert P. Hickey, the Company's President and CEO, stated, "The proceeds of this financing will help fund the US launch of REPEL-CV(R) Adhesion Barrier planned for the fourth quarter of this year." At the closing, the Company issued and sold 2.8 million shares of Common Stock at $1.00 per share to a consortium of accredited overseas investors. The Company has authorized the sale of an additional 3.2 million shares in the private placement on the same terms. The Company has agreed to file a registration...
Source: Drug Week (2007-08-31)
|
